NEWSROOM

Adyen Launches Automated PayOut Service

Friday, August 02 2013

AMSTERDAM, NETHERLANDS | Adyen, the global payment company, yesterday announced the availability of PayOut, a fully-integrated service that automates the processing and reporting of electronic payouts for businesses in areas such as the gaming and gambling, travel and peer-to-peer sectors. Developed to streamline outgoing payment processes to suppliers or third parties around the world, PayOut provides a simple and effective way for businesses to manage the approval or decline of any incoming payout requirement.

By automating the payout process, Adyen removes the need for businesses to operate independently through local banks in different countries, and in doing so, generates significant administrative and cost savings. The service can be accessed via an easy-to-use PayOut management interface which has been integrated into the existing Adyen reporting interface to provide complete technical and administrative control. A ‘four-eye’ policy check system means that the PayOut service is fully compliant with all legal requirements.

“The new PayOut service from Adyen completely automates the important function of electronically paying out to beneficiaries, and is a major step for our business” explains Jens Podewski, Head of Global Payments, mybet Holding SE. “Adyen is a strategic payment partner, customizing solutions that answer our needs and supporting our efforts to maintain a successful payment strategy.”

PayOut fully supports all major payment methods, including CFTs on credit cards, bank transfer, Skrill (Moneybookers), Neteller, PayPal, Click&Buy and IBAN payout. Its introduction follows news that Adyen achieved record growth in 2012 in terms of revenue, transactions processed, mobile payments and new customer wins. The company also announced that it had added 27 new preferred local payment methods, bringing the total number of supported payment methods to more than 200.

“The addition of PayOut to our range of advanced payment capabilities is completely in line with our goal to provide the smoothest payment process available, and coincides with efforts to expand our rapidly growing portfolio of high-profile clients in areas such as gaming and gambling, retail and travel,” explained Roelant Prins, CCO, Adyen. “PayOut is well-suited to any businesses looking for a stress-free way to pay their customers, and we look forward to working with our existing and prospective clients to roll out this functionality.”

About Adyen

Headquartered in Amsterdam, with offices in Boston, San Francisco, London, Stockholm, Paris, Sao Paolo and Singapore, Adyen is a leading, multichannel payment company. Adyen provides a fully outsourced payment solution, built on over 15 years of industry experience, which enables merchants accept payments from anywhere in the world. Adyen supports all relevant sales channels, including online, mobile and Point-of-Sale (POS), and can process more than 200 different payment methods, 187 transaction currencies and 14 settlement currencies used across six continents. The Adyen solution is highly scalable and can be completely customized to meet any merchant requirement. Adyen works with many global customers including mybet, SoundCloud, Getty Images, Benetton, KLM, PopCap Games and Vodafone. For further information, please visit www.adyen.com